Home / Knowledge / News / Textiles / Pakistan textile exporters hail interest rate cut
Pakistan textile exporters hail interest rate cut
Aug '12
Textile exporters of Pakistan have welcomed the State Bank of Pakistan’s (SBP) decision to cut interest rate by 150 basis points to 10.5 percent, terming it as a really progressive and supportive step in favour of the country’s textile exports.
Hailing SBP’s move to reduce interest rate in the wake of ongoing global economic slump, Pakistan Textile Exporters Association (PTEA), Chairman, Rana Arif Tauseef, said the step was very much imperative for revival of the industry and the country’s economy as a whole. 
However, he said, such interest rate cut alone cannot bring the country’s trade and industry back on track, as the interest rate is still very high and should be reduced to a single digit, to aid promotion of trade and industry in the country.
Such rate cut would boost long-term investment, which if supported by zero load-shedding, would provide a momentum to economic activities across the country, he said.
Textile exporters were for long demanding the cut in the interest rate to boost production, which has been badly hit due to several factors, including high interest rate, he added.
High mark-up rate and limited availability of cheap credit for the private sector, particularly for establishing new industrial units or reviving the sick ones, are impeding the future investments, the PTEA chief said, and urged the SBP further slash interest rates to bring them down to single digit.

Fibre2fashion News Desk - India

Must ReadView All

Armtex Group gets incentives for textile unit in Armenia

Textiles | On 18th Mar 2019

Armtex Group gets incentives for textile unit in Armenia

Armenia recently granted textile manufacturer Armtex Group customs...

Pic: Gildan Activewear

Fashion | On 18th Mar 2019

Merger of athletic, leisure created new brands: Gildan

Merging of athletic and leisure categories in developed nations has...

Pic: Asteks

Textiles | On 18th Mar 2019

Asteks' AGV reduces workload in material transportation

AGV automatic guided vehicles developed by garment manufacturer...

Interviews View All

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nuno Venda, ROQ

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Eric Scholler, Groz-Beckert

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search